The quest to save Social Security is a noble one — and one that is on a tight timeframe.
Some estimates peg partial insolvency at 2035. Others have it a few years earlier.
What’s the solution? It’s a hotly debated issue, and while opinions vary, a few options continue to come to the surface. They include:
- Benefit cuts for all Social Security beneficiaries
- Benefit cuts for wealthy Social Security beneficiaries
- Payroll tax adjustments that would require the wealthy to pay more
- Raising the retirement age
- Raising the amount of Social Security credits needed to claim benefits
What do you think of these ideas? Which one, or which combination, is most likely to work?
Another way of protecting and preserving Social Security is to sign our Social Security Lock-Box Petition. We believe all seniors deserve the benefits they’ve earned, adjusted for inflation.